With higher regulatory pressure and waning fundamentals support, iron ore price may still dip

[Daily SMM Hot Rolled Coil Trading] On February 28, the combined daily trading volume of hot rolled coils for sample enterprises in four cities (Shanghai, Lecong, Tianjin, Ningbo) was 8,970 mt, up 390 mt, +4.5% MoM, -51.88% YoY, and -20.83% YoY based on the lunar calendar.

[SMM Coking Coal and Coke Daily Brief] Supply side, most coking plants are operating normally, and production was basically stable. Currently, most coking plants remain near the break-even point, showing limited enthusiasm for increasing output. Demand side, the steel market is fluctuating, and steel mill coke inventory is at a reasonable level. Only a few steel mills are conducting small-scale rigid restocking, with overall purchasing demand for coke remaining cautious. In summary, the coke market is expected to operate in the doldrums next week, with expectations of a price decline.